The District is currently receiving revenue from four cell towers located at Fivay High School, Dr. John Long Middle School, Sunlake High School and a future middle school site in the Meadow Pointe area. The School Board also approved a cell tower lease agreement for Gulf Trace Elementary School and the cell tower company is moving forward with the approvals necessary to construct this tower.
There is an opportunity to enter into a cell tower ground lease at Sand Pine Elementary School. A request for proposal was sent out and two companies responded. The winning bid proposes an annual rental amount of $16,000 and an initial term of ten years with four 5-year options to extend the lease. The annual rent for the second year will be increased by four percent (4%) and thereafter, each and every succeeding year. The annual rent will increase by $9,500 if a second tenant collocates on the tower.
It is estimated that the total revenue over the course of the thirty (30) year lease will be around one million dollars.
Strategic Focus: Provide equitable support systems.
Strategic Plan Goal: The district will establish and maintain state-of-the art, attractive and safe facilities.
The staff recommends School Board approval of the Ground Lease Agreement to construct a cell tower at Sand Pine Elementary School.
The staff respectfully requests the School Board’s approval of the Ground Lease Agreement for a cell tower at Sand Pine Elementary School.